The Oil Drum

From a blog at a New Orleans TV station.

New Orleans police say looting is out of control in many parts of the city. Officials are focusing on the rescue effort, but a crackdown on looting is expected after the martial law declaration.

New Orleans is under martial law, according to state officials. The declaration is imposed to restore order in times of war and emergency. It could be weeks before displaced residents are allowed to return. -- WDSU chief meteorologist Dan Milham

The Superdome is filthy. Garbage bins are overflowing with trash and the bathrooms are filthy. In addition, the plumbing does not work. City officials say conditions are "miserable."

Residents are urged to avoid drinking the water in New Orleans. It is not safe.

Definitely seems like it's going to be weeks just to get the workforce back in place at Louisiana companies, and weeks to get power. I'd guess commercial operations in the hardest hit areas are probably going to be impacted for a month. With 10% of refinery operations down there, if half of it takes two weeks to come back, and half of it takes a month to come back, and stocks already on the low side, seems like we'd have the equivalent of an oil shock.